Prof. Jacob Frenkel Assumes Chairmanship of TAU's Board of Governors Thursday, January 17, 2013
Internationally-renowned economist and banker returns to serve Tel Aviv University
Prof. Jacob Frenkel, Chairman of JPMorgan Chase International and Chairman of the Board of Trustees of the Group of Thirty (G-30), the private, nonprofit Consultative Group on International Economic and Monetary Affairs, assumed the chairmanship of Tel Aviv University's international Board of Governors on January 1, 2013.
"I am delighted to accept this prestigious position and would like to express thanks and appreciation to the Board of Governors for giving me the opportunity to serve this fine University," Prof. Frenkel said on the occasion of his election. "I am looking forward to meeting the challenges ahead." He succeeds Harvey M. Krueger, Vice Chairman of Barclays Capital.
Having served two terms as the Governor of the Bank of Israel, Prof. Frenkel is credited with reducing inflation in Israel and achieving price stability, liberalizing Israel's financial markets, removing foreign exchange controls, and integrating the Israeli economy into the global financial system. Previously he was the Economic Counsellor and Director of Research at the International Monetary Fund (IMF).
Prof. Frenkel is a member of the world's leading economic research and advisory bodies, and has received many decorations, honorary degrees and awards including the Czech Karel Englis Prize in Economics, the (Gran Cruz) Order de Mayo al Merito decoration from the Government of Argentina, the (Cavaliere di Gran Croce) Order of Merit decoration from the Republic of Italy and the YIVO Lifetime Achievement Award.
A deep connection
In a New Year greeting to fellow Governors, Prof. Frenkel noted his long history with Tel Aviv University.
"Fifty years ago I embarked on my undergraduate studies in a red brick building among the scrubby dunes of Ramat Aviv," he wrote. "Known today as the Trubowicz Building, it was the first and only structure on what would soon become the Tel Aviv University campus. Later on in the early 1970s, when I returned to the campus for my first stint as a faculty member, Tel Aviv University was still small and young.
"We have come a long way. Tel Aviv University has evolved into an internationally-recognized center of excellence. Our faculty and students are the best in the country. Our graduates have shaped and advanced Israel's industry, business, governance, education, law, culture and much more."
He urged the Governors to aspire for "a strong, influential and triumphant" university despite current geopolitical and economic uncertainties that pose challenges for the State of Israel and its higher education system. "I'm convinced that there is no limit to what we can achieve working together," he said. He also extended "special, heartfelt thanks and appreciation" to the outgoing Chairman, Harvey M. Krueger, for his "exceptional leadership and outstanding contribution."
A laureate of the 2002 Israel Prize in Economics and recipient of Tel Aviv University's Hugo Ramniceanu Prize for Economics, Prof. Frenkel has served on the faculty of TAU's Eitan Berglas School of Economics as the Gerald and Vera Weisfeld Professor of the Economics of Peace and International Relations. He was also on the faculty of the University of Chicago as the David Rockefeller Professor of International Economics.
In welcoming the appointment, President of Tel Aviv University Prof. Joseph Klafter expressed his firm belief that Prof. Frenkel, who is recognized for his outstanding achievements in the national and international arena, will "greatly contribute to the further development of the University."